Archive for ‘Gold’

August 29, 2011

August 29th, 2011

Euro bail-out in doubt as “hysteria” sweeps Germany

UK Telegraph | Ambrose Evans-Pritchard

Mrs Merkel has cancelled a high-profile trip to Russia on September 7, the crucial day when the package goes to the Bundestag and the country’s constitutional court rules on the legality of the EU’s bail-out machinery.

If the court rules that the €440bn rescue fund (EFSF) breaches Treaty law or undermines German fiscal sovereignty, it risks setting off an instant brushfire across monetary union.

The seething discontent in Germany over Europe’s debt crisis has spread to all the key institutions of the state. “Hysteria is sweeping Germany ” said Klaus Regling, the EFSF’s director.

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Gold, politics, and Venezuela

Gold Money.com |

Markets were abuzz last week with Chavez’s recall of Venezuela’s gold reserves not currently held in Caracas. Bulls are excited by the thought that withdrawing some 150-200 tonnes from the Bank of England and the bullion banks will force a bear squeeze on the LBMA, where gearing between the physical and paper markets are assumed to be 100 to 1. This stretches the relationship between paper gold and physical gold even further. They are also excited by the possibility that others might follow Venezuela’s example.

These concerns are real and should not be dismissed lightly, and the announcement could not have come at a worse time for LBMA members, who also face being caught up in a European banking crisis. Fear dominates, but the real trigger for this market emotion, and therefore its outcome, is global politics. Chavez is not just recalling his country’s gold to protect its integrity, he is waging an idealist’s war against the capitalist system and the US in particular. This is why he has threatened to move gold and foreign reserves to the countries he says he trusts, principally Russia and China, and why he is proposing to nationalise Venezuela’s gold mines.

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The West Wants to take Control of Libya’s Oil Wealth

Global Research | by Prof. Michel Chossudovsky

While Libyan revolutionaries have not yet won the war in the oil-rich country, Western powers are already discussing the post-Gaddafi period on such issues as how the interim government there needs to honor its oil contracts.

In case of internal fighting in Libyan crisis, will the US and its coalition NATO allies deploy boots on the ground to protect their oil interests?

In a Press TV interview, Michel Chossudovsky, Director of Center for Research on Globalization, shed more light into the development. The following is a rush transcription of the interview:

Press TV: Western powers have said the international community will support the political transition to a free and democratic Libya: In what form will this “support” come? A “Western” democracy imposed on Libyans? What is that going to means for the Libyans? They used the same language when they attacked Afghanistan 10 years ago and Iraq 8 years ago. The US still insists it soldiers should have immunity in these countries. How will it be in Libya?

Chossudovsky: Well I think we have to understand both the nature of this military operation, the covert intelligence behind the rebels, as well as the extensive bombings of civilians infrastructure, residential areas, as well as schools, universities, hospitals which has taken place in the course of the last few months.

And particularly virtually continuous bombings, at night in Tripoli in the course of last few days. We are talking about 20,000 sorties, 8,000 strike sorties, In another words what has happened in the course of these last months, particularly in a last few weeks, is the destruction of an entire country, its infrastructure, institutions, very targeted, involving a lot of civilian casualties.

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Ron Paul calls for spending cuts before hurricane relief

Raw Story | David Edwards

The moment Hurricane Irene was sweeping through New York, Republican presidential candidate Ron Paul was calling for additional spending cuts before funding disaster relief.

The Texas congressman doubled down comments he made Friday that the nation was better off in the 1900s, before the existence of the Federal Emergency Management Agency (FEMA).

“Congressman, you would really at this point, do away with FEMA and all the things it’s doing to help hundreds of thousands of people along the East Coast?” Fox News Chris Wallace asked Paul.

“Have you ever read the reports that came out of New Orleans [after Hurricane Katrina]?” Paul laughed. “It’s a system of bureaucratic central economic planning, which is a policy that is deeply flawed.”

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Ron Paul should take Rick Perry to the woodshed

The Hill | Brent Budowsky

Rep. Ron Paul (R-Texas) should, and probably will, take Texas Gov. Rick Perry to the woodshed as America’s leading phony conservative flavor of the month, and launch the mother of all Ron Paul money bombs. While Ron Paul is an authentic libertarian Rick Perry, is a polyester political libertine who moves effortlessly from championing Al Gore to imitating Ron Paul.

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Lost in a Yemen Jail! … A DB Staffer Speaks About His Long, Strange Trip and the Secret Gulag America Has Built in the Middle East and Africa

The Daily Bell | Anthony Wile

Coming across the border of Yemen for some reason, a top Daily Bell gnome predictably (you really can’t send them anywhere) attacked a senior Yemen official with gustatory intentions. The ravenous gnome was then taken into custody and remanded to the second-most secure jail in all of Yemen, a political jail complete with dungeons, blindfolds and hundreds of incarcerated supposed al Qaeda prisoners. Foolish gnome! President Saleh’s police state was not created for his nutritional needs!

Daily Bell: We’re going to treat this interview as if we don’t know you or even, for the most part, what happened. So let’s begin with the most important question. Are you really a gnome?

Gnomish Staffer: Some days it feels so.

Daily Bell: What the hell were you doing in Yemen?

Staffer: Crossing over the border in a smuggler’s truck. They smuggle gas from Oman next door where it’s cheaper.

Daily Bell: So this is a true story?

Staffer: You can make up your own mind about the gnome – but the jail part is true. All that I’m going to relate here is the truth as I saw it and recall it. I was held in Yemen in a political jail.

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John McCain Pushed to Arm Gaddafi in 2009

The Humble Libertarian |

Could it get any more stupid than this? A new Wikileaks cable reveals that before he pushed hard for war this year against Gaddafi’s regime in Libya (by actually aiding Al Qaeda forces among the Libyan rebels with U.S. airpower ….yeah), Senator John McCain was the dominant congressional voice in pushing for military aid to Gaddafi in the form of providing lethal and non-lethal U.S. military equipment.

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Shanksville Resident Speaks Out About 9-11

American Free Press | Victor Thorn.

Has somebody actually located the spot where Flight 93—or a plane purported to be Flight 93—crashed near Shanksville, Pa. on Sept. 11, 2001? On Aug. 10, AFP’s Washington, D.C. office received a phone call from a woman in Cambria County, Pa. who will only be identified in this article as “Nicole.”

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Source: Teen in U.S. Custody in ‘Jihad Jane’ Plot

Fox News | Associated Press

A U.S. teen from Pakistan is in secret custody, accused of helping recruit terrorists for the woman known as “Jihad Jane,” a person close to the boy’s family said Friday.

Charges filed last month accuse the 17-year-old of helping Colleen LaRose in her alleged efforts to incite an Islamic holy war. Prosecutors have said LaRose was a convert to Islam who wrote of being driven by an urge to help suffering Muslims.

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9/11 After A Decade: Have We Learned Anything?

Global Research | Dr. Paul Craig Roberts

In a few days it will be the tenth anniversary of September 11, 2001. How well has the US government’s official account of the event held up over the decade?

Not very well. The chairman, vice chairman, and senior legal counsel of the 9/11 Commission wrote books partially disassociating themselves from the commission’s report. They said that the Bush administration put obstacles in their path, that information was withheld from them, that President Bush agreed to testify only if he was chaperoned by Vice President Cheney and neither were put under oath, that Pentagon and FAA officials lied to the commission and that the commission considered referring the false testimony for investigation for obstruction of justice.

In their book, the chairman and vice chairman, Thomas Kean and Lee Hamilton, wrote that the 9/11 Commission was “set up to fail.” Senior counsel John Farmer, Jr., wrote that the US government made “a decision not to tell the truth about what happened,” and that the NORAD “tapes told a radically different story from what had been told to us and the public.” Kean said, “We to this day don’t know why NORAD told us what they told us, it was just so far from the truth.”

Most of the questions from the 9/11 families were not answered. Important witnesses were not called. The commission only heard from those who supported the government’s account. The commission was a controlled political operation, not an investigation of events and evidence. Its membership consisted of former politicians. No knowledgeable experts were appointed to the commission.

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Cell Phone Deals on Craigslist

Gary North |

This was posted on one of my site’s forums. It deserves wider circulation.

* * * * * * *

If you have a cell phone contract, whether one year, two year, or whatever, you probably get discounts on phones when the contract is just about up. If you stick with the same type of phone when you upgrade, or maybe even get a higher level upgrade a bit, here’s how you can possibly pay nothing at all when you upgrade…

The last time I upgraded to a new phone for $85 total after the rebate (a smart phone at that), they wanted to buy back my old smart phone for $27. My spidy sense went off and I wondered if I get more for it somewhere else, even though I didn’t know anyone who wanted my phone. It turns out I was right…

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Why Aren’t There Urinals In Houses?

Weakonomics |

Boys, everywhere you go you use a urinal to tinkle. I counted yesterday and I used a urinal twice as often as I use a toilet. And it’s only at home when I don’t have access to one. Why is that?

Urinals use a lot less water than toilets, and most people don’t subscribe to the “if it’s yellow let it mellow” phenomenon so we aren’t getting any water conservation that way. And ladies, if you don’t know, they make urinals that don’t use any water now too.

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The Many Collapses of Keynesianism

Lew Rockwell Jr |

It should be obvious to everyone but the most dedicated adherent of Keynesianism that the stimulus did not accomplish its end. The combination of outright spending by Congress, the desperate schemes to reflate the housing market, the attempt to transfuse bleeding firms with other people’s money, and the creation of trillions in artificial money, has not done a thing to lift the US economy.

Actually, the reverse has been true. All these efforts have prevented the adjustment of economic forces to the post-boom world. And all the resources that the stimulus consumed were extracted from the private sector, for we must always remember that government has no resources of its own. Everything it does must come from the hides of private producers and the citizenry in general, in the future if not immediately.

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Ron Paul: Why a Top-tier Candidate Is Ignored by Republicans

The New American | Jack Kerwick, Ph.D.

It is hard not to be amazed by the blackout of media coverage of Ron Paul’s presidential campaign. Had Newt Gingrich, Herman Cain, Rick Santorum, Jon Huntsman, or any second-tier candidate been performing remotely as well as Paul has, he would no longer be regarded as a “second-tier” candidate. To the credit of such left-leaning outlets as Jon Stewarts’ The Daily Show and The Huffington Post, this phenomenon has not gone unnoticed by everyone.

Let’s think about this.

In spite of the extent to which Paul has been ignored by the establishment media in both of its leftist and rightist varieties, he unfailingly elicits explosive applause in every GOP presidential primary debate in which he has participated. A Fox News poll, of all places, shows that the overwhelming majority of its respondents hold that Ron Paul achieved a decisive victory over all of the other candidates in the most recent debate in Iowa. Of 7,991 “active” cities nationwide that participated in the poll, and 43,293 total votes, 27,459 people thought that Paul won the debate. Newt Gingrich came in second place — with 5, 906 votes.

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BBC Responds Over False Tripoli Footage

PrisonPlanet.com | Steve Watson

For what it’s worth here is a response from the BBC concerning footage it ran on August 24, claiming a gathering in India, with people waving Indian flags, was actually footage of celebrations from a liberated Green Square in Tripoli:

Dear Mr Watson,

Thanks for contacting us regarding ‘Breakfast’ broadcast on 24 August on BBC One.

We understand you were concerned that incorrect footage was shown during a report on the latest developments from Tripoli, and that images from India were broadcast instead.

We forwarded your complaint to ‘Breakfast’ Editors who explained in response that they realised within moments that they were showing the wrong footage and quickly took it down.

They also apologised immediately and pointed to how the problem was caused by confusion over a “feed” coming in to television centre from the international agencies.

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August 26, 2011

August 26, 2011

FBI Organizes Almost All Terror Plots in the US

Lew Rockwell.com | Russia Today

The Federal Bureau of Investigation employs upwards of 15,000 undercover agents today, ten times what they had on the roster back in 1975.

If you think that’s a few spies too many – spies earning as much as $100,000 per assignment – one doesn’t have to go too deep into their track record to see their accomplishments. Those agents are responsible for an overwhelming amount of terrorist stings that have stopped major domestic catastrophes in the vein of 9/11 from happening on American soil.

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Gold and Interest Rates: More than Joined at the Hip

GoldSeek.com | Rob Kirby

Interest rates to remain at zero for the next two years.” Those were the words of Fed Chair – Sir Benjamin of Bernanke last week. With inflation beginning to pick-up – the notion that rates would remain at zero for a prolonged period of time seems “paradoxical” to conventional economic thought. There have been other misunderstood ‘paradoxes’ in economics in modern times. Here’s how Wikipedia explains the relevance of this famous benchmark in economics:

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Creepy Crawly Preparedness

Preparedness Pro | Kellene Bishop

Generally speaking, insects, mice, and other pests and vermin are enemies of our self-reliance. While there are many gidgets and gadgets today to help rid our lives of these nuisances, we really do need to look at addressing such problems without the presumption that we’ll have the luxury of such comfortable tools in the future. I would suggest specifically being capable of handling mice, rats, spiders, ants, excess flies, bed bugs, crickets, and mosquitoes, etc. as these intruders can compromise the viability of even the best self-reliance efforts.

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Green Light More Education Tax Credits

Commonwealth Foundation | MATTHEW BROUILLETTE

Would you ever give a green light or a hard-earned nickel to a business model that showed it was going to hire more staff to service fewer customers by doubling the cost of production while keeping the quality substandard and worse than the global competition? Of course not, but that is exactly the model Pennsylvanians invested in through the public education system in the last decade.

Pennsylvania public school spending has rapidly increased despite declining enrollment, with little growth in academic achievement to show for it. Since 2000, public school spending rose 68 percent, from $15.3 billion to $25.8 billion in 2009-10. Over that time, enrollment in Pennsylvania public schools declined by 26,960 students, while schools have hired an additional 32,937 employees.

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Marc Faber: don’t store your gold in the United States

Sovereign Man | Simon Black

As usual, the CNBC hosts were completely dumbfounded.

Phoning in from Sao Paulo, Brazil, investment guru Marc Faber was a guest on CNBC last week, once again telling the unvarnished truth about the state of the world economy and bankrupt western nations.

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10 Major Conservative Voices Saying Great Things about Ron Paul

The Humble Libertarian | : W. E. Messamore

on’t think Ron Paul is conservative enough? Or that he can capture the imagination and support of the conservative mainstream? Just listen to what some of these major conservative voices have had to say about Ron Paul:

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On the Brink of Inflationary Disaster

Daily Mises | Bob Murphy

Ever since Ben Bernanke began his massive infusions of money into the financial system, many analysts (including me) have been worried about the severe weakening of the dollar if and when the fractional-reserve-banking system magnified the initial injections severalfold.

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Your Portfolio of Lies

Lew Rockwell.com | Gary North

Years ago, I bought a domain name: http://www.NeverSayRetire.com.

I did this because I have long been aware of a crisis that will face tens of millions of Americans. They will not be able to afford to retire.

Every Western government has lied to its citizens, All have promised to provide an old age safety net. These promises will soon be broken.

Americans have long accepted these promises at face value. They have not applied a discount for the high risk of a government default on its IOUs. They have also not applied a discount for price inflation to compensate them for a politically inevitable policy.

Yet they are becoming vaguely aware that the government will in some way wiggle out of its obligations. Anyway, they say they think this. But they take no practical steps to hedge their portfolio of lies.

This is why I conclude that there is enormous self-deception in all adult age groups in the United States regarding the prospects of retirement. This self-deception is so comprehensive and so widespread that I have doubts about people’s ability to make assessments and then make decisions that are consistent with their assessments.

The financial media are beginning to publish articles about how millions of Americans will not be able to afford to retire. Americans have not saved enough money, we are told. This is accurate.

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5 things the media isn’t telling you about human activity and earthquakes

Raw Story | Nora Eisenberg

Shortly before midnight Mountain Time on August 23, the largest earthquake in Colorado in more than a century, with a magnitude of 5.3, sent tremors as far away as Kansas. Some twelve hours later, a magnitude 5.8 earthquake centered in Northern Virginia sent shock waves as far away as Toronto. The local damage in each event did not appear extensive, though structural effects, on bridges, tunnels, nuclear power plants and more are yet to be determined.

Through the afternoon and evening of August 23rd, the national media uncovered the big story of the East Coast quake: where their colleagues posted in New York or Washington were and what they thought when they felt a bump, sway, rumble or funny feeling.

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Technology Keeping Internet Freedom Ahead of Censorship

New American | Bob Adelmann

Efforts by the Federal Communication Commission (FCC) to regulate the Internet may become irrelevant if the new technology being developed succeeds as expected. When the U.S. Court of Appeals for the District of Columbia ruled against the FCC last December, the FCC rewrote its rules to allow them to regulate the Internet anyway through the whitewash called “net neutrality.” Verizon immediately filed suit to overrule the new attempt, and a House subcommittee in March voted to invalidate the actions of the FCC. But the new rules remain in place until the issue is decided.

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Berkshire Hathaway Invests $5 Billion in Bank of America

CNBC | By: Reuters

arren Buffett’s Berkshire Hathaway will invest $5 billion in Bank of America, stepping in to shore up the company in the same way he helped prop up Goldman Sachs during the financial crisis.

Bank of America [BAC 7.69 0.70 (+10.01%) ] shares jumped to trade at $8.80 in Thursday trading before dropping later in the day. Shares were trading at $7.73 by early afternoon.

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August 25, 2011

August 25th, 2011

The Budget Deal May Not Last Until Christmas

Capital Gains and Games | Stan Collender

OK…I’ll admit that saying the agreement will be gone by this Christmas is likely (but not necessarily) an overstatement.

But saying that the “Budget Control Act” — the debt ceiling increase/deficit reduction deal signed into law on August 2 — isn’t likely to be in place on January 1, 2013, or to have it’s projected impact over the full 10 years it supposed to be in effect is anything but an exaggeration.

The reason? Federal budget agreements have seldom, if ever, gone the distance. Instead, they have always been changed, waived, ignored or abandoned long before they were scheduled to expire.

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Judge rules warrant required to obtain cell phone location data

The Raw Story | Eric W. Dolan

A federal judge in Brooklyn ruled Monday that the federal government must establish probable cause and secure a warrant before obtaining records about a cell phone user’s location, saying it violated the Fourth Amendment’s protections against unreasonable searches, according to the New York Law Journal.

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American Workers Deserve Better Than This

Mises Daily | Christopher Westley

Why can’t everyone who wants a job, or a better job, just find one? In a perfect world, this would be the case. Sadly, the recently released employment figures for June indicate that the world in which we live is still far from perfect.

Nationally, unemployment still lingers in the low nines, with job growth clocking in at a meager 18,000 — a figure that will surely be revised downward.

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Obama 39%, Paul 38%

Rasmussen |

The president and the maverick are running almost dead even in a hypothetical 2012 election matchup.

Texas Republican Congressman Ron Paul earns 38% of the vote to President Obama’s 39% in the latest Rasmussen Reports national telephone survey of Likely U.S. Voters. Fourteen percent (14%) like some other candidate, and eight percent (8%) remain undecided. (To see survey question wording, click here.)

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Social Security disability on verge of insolvency

Yahoo News | STEPHEN OHLEMACHER

Laid-off workers and aging baby boomers are flooding Social Security’s disability program with benefit claims, pushing the financially strapped system toward the brink of insolvency.

Applications are up nearly 50 percent over a decade ago as people with disabilities lose their jobs and can’t find new ones in an economy that has shed nearly 7 million jobs.

The stampede for benefits is adding to a growing backlog of applicants — many wait two years or more before their cases are resolved — and worsening the financial problems of a program that’s been running in the red for years.

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US government asset seizures on the rise

Sovereign Man | Simon Black

he Wall Street Journal published a disturbing article earlier this week entitled “Federal Asset Seizures Rise, Netting Innocent With Guilty.”

You can already imagine the crux of the article.

In the United States, there are hundreds of regulations which authorize dozens federal agencies to confiscate private property– homes, cars, bank accounts, gold, company shares, and even personal effects.

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The upside for gold and silver will knock your socks off – Embry

Mineweb.com | Geoff Candy

For many commentators, gold is considered not only a constant store of value but, also, a barometer for the health of the global economic system and the currencies that pump through its veins.

For, John Embry, chief investment strategist at Sprott Asset Management, the current parabolic rise in prices, which have beat even his optimistic performance expectations this summer, is indicative of the unsustainable debt situation in which the world now finds itself.

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Silver Prices To Reach Record Levels, Experts Says

Personal Liberty Digest |

While many investors have focused on the record levels that gold has reached in the past several weeks, the price of silver has gone up at a significant rate and has kept pace with the yellow metal, Barrons reported.

Industry experts have predicted that silver prices could top $50 an ounce over the next several months, as the rise of the value of gold may lead traders to favor a different commodity due to the amount of money that has been moved from the currency markets, according to the news outlet.

“Silver will benefit from the same factors as that of gold from rising investment drivers. Until the global macro situation gets clearer, prices will go higher,” Paul Walker, global head of precious metals at GFMS, said in a market review.

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The Truth About the Situation in Libya: Cutting through Government Propaganda and Media Lies

Global Research | Brian Becker

Libya is a small country of just over 6 million people but it possesses the largest oil reserves in all of Africa. The oil produced there is especially coveted because of its particularly high quality.

The Air Force of the United States along with Britain and France has carried out 7,459 bombing attacks since March 19. Britain, France and the United States sent special operation ground forces and commando units to direct the military operations of the so-called rebel fighters – it is a NATO- led army in the field.

The troops may be disaffected Libyans but the operation is under the control and direction of NATO commanders and western commando units who serve as “advisors.” Their new weapons and billions in funds come from the U.S. and other NATO powers that froze and seized Libya’s assets in Western banks. Their only military successes outside of Benghazi, in the far east of the country, have been exclusively based on the coordinated air and ground operations of the imperialist NATO military forces.

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Motion Papers and Oral Argument Transcript from Meshal v. Higgenbotham

Lawfare | Robert Chesney

In November 2009, the ACLU brought a suit on behalf of an American citizen–Amir Meshal–against two FBI agents and two unnamed officials, alleging the following: that he went to Somalia in 2006, that he fled the fighting there but was arrested and detained in Kenya, that he was later sent back to Somalia and then to Ethiopia, that these detentions and transfers were at the behest of the U.S. government, and that the defendants violated Meshal’s constitutional rights by threatening him with torture, enforced disappearance, and execution in order to induce a false confession

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A Look Back: Nixon Ends Bretton Woods International Monetary System

The Daily Bell | Richard Nixon

On August 15, 1971, President Nixon announced on TV 3 dramatic changes in economic policy. He imposed a wage-price freeze. He ended the Bretton Woods international monetary system. And he imposed a temporary surcharge (tariff) on all imports. The Bretton Woods system was created towards the end of World War II and involved fixed exchange rates with the U.S. dollar as the key currency – but also a role for gold linked to the dollar at $35/ounce.

Almost immediately after President Richard Nixon took the US off the gold standard, the price of gold began to rise and the dollar lost value and has been increasing in value, cyclically, ever since.

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Legal Obedience

Townhall.com | Walter E. Williams

What laws are we morally obligated to obey? Help with the answer can be found in “Economic Liberty and the Constitution,” a 66-page pamphlet by Jacob G. Hornberger, founder and president of The Future of Freedom Foundation.

Hornberger offers a hypothetical whereby Congress enacts a compulsory church attendance law that requires children to attend church service each Sunday. Parents are penalized if their children fail to comply. Would there be any moral or constitutional legitimacy to such a congressional mandate?

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Cop Rapes Woman at Gunpoint, 11-Year-Old Rape Victim Smeared, Accuser Sued for $2 Million: Is US Society Failing Victims?

AlterNet | Sarah Seltzer

If events of the last few months have sent any sort of message to women in America it’s this: if you’re raped or sexually assaulted, justice won’t be on your side.

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What Are They Afraid Of?

TomMullen.net | Tom Mullen

In this interview, Ron Paul inadvertently coined what should be the new slogan of his campaign.“What are they afraid of?”

He was talking about the blatant suppression by the media of any positive news about his campaign. For the few somewhat principled journalists that have admitted that it is intentional, the excuse offered has been that the media ignore him because he can’t win. However, this is counterintuitive. Is it not largely media coverage that propels candidates to the “top tier” in political races? Does anyone seriously believe that even Ronald Reagan or Bill Clinton would have won their respective primaries, much less the presidency, if the media had not covered their campaigns?

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Getting to Know Scholar Thomas E. Woods, Jr.

Harvard Political Review | Naji Filali

Thomas E. Woods, Jr. ‘94 is a Harvard alumnus who contributes to modern libertarian thought: a rare combination. He received his bachelor’s degree in history, and then moved on to Columbia, where he earned his master’s, M.Phil., and Ph.D. Today, Dr. Woods is a senior fellow of the Ludwig von Mises Institute and continues to add to his credentials, both as a traveling scholar-orator and as a New York Times bestselling author of eleven books, dissecting a broad range of topics spanning states’ rights, Church history, and the causes of the economic meltdown. Dr. Woods keeps company with liberty-minded luminaries such as Ron Paul (who wrote the foreword to Woods’s book Meltdown) and Judge Andrew Napolitano, and the Harvard Political Review is delighted that he has taken time out of his busy schedule to sit down with us.

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August 22, 2011

August 21st, 2011

Gold, Silver SOAR, Gold Cartel In Shambles / PM Shares On The Move … Finally

GoldSeek.com | Bill Murphy, Le Metropole Cafe, Inc

“The wind blows over the surface of the lake. In this way, the effects of the invisible are made visible.” … I Ching

Go GATA!

This morning was breathtaking. As I am still having trouble getting off London/France time yet, I am still rising VERY early. This morning was worth every second of it as I watched gold blow through the 2% Rule with ease, RISING 3% at its highs of its rocket run. Speaking of rockets…

haha Bill
you gotta laugh. Do you think he is referring to those GATA rockets?!

UK Guardian Blog:

The deepening panic on stock markets has sparked new metaphors, with gold – which broke through $1868 an ounce today – being described as a “rocket ship”. Jeremy Cook, chief economist at foreign exchange brokers, World First, said:

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Juan Williams on Mainstream Media Bias, the Entitlement Culture and American Foreign Policy

Daily Bell | Anthony Weil

The Daily Bell is pleased to publish this exclusive interview with Juan Williams (left).

Juan Williams, one of America’s leading journalists, is a political analyst for Fox News, a regular panelist on Fox Broadcasting’s Sunday-morning public-affairs program Fox News Sunday, and a columnist for FoxNews.com and for The Hill. He hosted NPR’s Talk of the Nation and has anchored Fox News Channel’s weekend daytime news coverage. A former senior correspondent and political analyst for National Public Radio, he is the author of the bestselling book Enough, the critically acclaimed biography Thurgood Marshall: American Revolutionary, and the national bestseller Eyes on the Prize: America’s Civil Rights Years, 1954–1965, the companion volume to the critically acclaimed television series. His most recent book, Muzzled: The Assault on Honest Debate, was released by Crown Publishers in late July, 2011, the main topic of which is the muzzling of honest exchange of ideas and search for solutions and compromise in America. During his 21-year career at the Washington Post, Williams served as an editorial writer, op-ed columnist, and White House reporter. His articles have appeared in the New York Times Sunday Magazine, Time, Newsweek, Fortune, The Atlantic Monthly, Ebony, Gentlemen’s Quarterly, and The New Republic.

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Merkel and Sarkozy impotent in the face of debt crisis

GoldMoney.com |

Mrs Merkel and Mr Sarkozy achieved nothing last Tuesday by holding, at short notice, a meeting to sort out the eurozone sovereign debt crisis. They only succeeded in exposing their political impotence. They came up with four proposals – none of which stand a chance of being implemented – having dropped one of Sarkozy’s, the issuance of a “eurobond”, after the Germans refused to lend their name and credit to it. This charade has more to do with French presidential elections next year than anything else, and Sarkozy’s diminishing re-election prospects. Mrs Merkel must regret being dragged into it.

They have no answers for the sovereign debt crisis, which now extends beyond the PIIGS to Belgium and France as well. According to the CIA database, the only eurozone countries with budget surpluses last year were Finland and Malta; the rest have a combined budget deficit of $760bn. Germany, who everyone is relying on, accounted for $120bn of the total deficit and has a government debt-to-GDP ratio of 80%. The most solvent are Estonia, Luxembourg, Slovenia and Slovakia, three of which have not had the chance to rack up much debt having been shackled behind the Iron Curtain for much of the last century.

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The Next De Gaulle

The Daily Sun |

Our editorial yesterday in respect of Charles De Gaulle raised the question of whether someone could be found today who could talk about the monetary crisis with the sense and gravitas the leader of Free France brought to the monetary crisis that came into view in the mid-1960s. De Gaulle himself is now gone, of course, having died in 1970. He had his faults and had become, in many ways, an irritant to America. But his late career call for a return to a system of sound money that would — by virtue of being based on gold — hold all countries to the same standard is now echoing across the decades. And it turns out there is an heir to the economist who emboldened the French president to make his famous declaration.

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Study says it’s official: The media is ignoring Ron Paul

The San Fransisco Chronicle | Joe Garofoli

It’s official: There is now a nonpartisan study confirming the Great Ron Paul Blow-Off. Dude lost the Ames Straw Poll by 152 votes to uh…uh…what’s her name… but SHE got the Sunday morning chat show invites while the punditocracy treated Dr. Paul like he was Thaddeus McCotter.

You’ve heard everybody from Jon Stewart to well, Ron Paul complain about it, but now we have a study from the nonpartisan Pew Research Center to back it up. The bar graph don’t lie:

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Syria: Obama Threatens U.S. Military Intervention

Global Research | Sara Flounders

President Barack Obama on Aug. 18 demanded that Syrian President Bashar al-Assad step down, saying that the Syrian leader’s days are numbered. The governments of Britain, France and Germany joined in this demand. This statement is ablatant imperialist interference in Syria’s internal affairs. Morethan that, it is an open threat to intervene militarily in another country in that region, just as the U.S. and its European allies have done already in Afghanistan, Iraq, Libya and Somalia, with rockets and bombs. It is a threat against the Syrian peopleof something like the last five months of slaughter of the Libyan people.

Two weeks earlier, on Aug. 5, Russia’s envoy to NATODmitry Rogozin told the media that NATO is planning a military campaign against Syria to overthrow the Assadregime. In an interview with Russia’s Izvestia daily newspaper, Rogozin said the North Atlantic Treaty Organization is also probably establishing a long-reaching goal of preparing an attack on Iran. (Reported in Xinhua, Aug. 5)

When U.S. imperialism engages in an attack on any government or movement, as it is now on Syria, it is cowardly to be neutral. It is rank betrayal to stand on the same side as the imperialist octopus, which seeks to dominate the world. This has been an ABC for workers’ movements through 150 years of class-conscious struggles. It is the very basis of Marxism. Whatever one’s assessment of the government under attack, any attempt at imperialist intervention, whether through sanctions or through armed attack, must be opposed.

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Roubini, Marx, and Keynes

LewRockwell.com | Gary North

Nouriel Roubini, known as “Dr. Doom” – having replaced Henry Kaufman in this capacity – now says that Karl Marx was right, according to a recent article.

Roubini teaches at New York University’s Stern School of Business. Kaufman earned a Ph.D. at the Stern School of Business. They are both very stern fellows.

I can hardly blame Kaufman for being stern. He ended his career at Lehman Brothers as the chairman of the Finance and Risk Committee. He is the author of The Road to Financial Reformation: Warnings, Consequences, Reforms (2009), also known as Do As I Say or Wind Up as We Did.

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A Not-Car Column….

EricPetersautos.com | Eric Peters

Last weekend, we bought some land.

This flies against policy (our policy) of never buying anything except that which can be paid for at the time of purchase – and even though I know full-well that we won’t really own the land, just as we don’t really own the land we have (or the house that sits upon it) because owners don’t pay rent in perpetuity to the government, which we, like all “owners” must (in the form of annual property taxes) if we wish to continue to be allowed to remain on the land (and in “our”) house.

Anyhow.

We did this deed as a way to hedge against what I am increasingly convinced is coming – the destruction of the dollar, followed about five minutes after this becomes common knowledge by the final implosion of what’s left of the American economy.

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Gold: Is It Invincible?

321gold.com | Morris Hubbartt

US Dollar QE Repercussion Chart

Dollar Commentary

Loss of confidence in the dollar is accelerating and it effectively sits now on what amounts to a trap door. US debt downgraded by S&P was a big story. The bigger story is the performance of the dollar in comparison to gold! Gold is being elevated back to its ultimate currency status. I think it’s fair to almost say that it is gold that has really downgraded the dollar for months, and this downgrade continues with a fury.

US Dollar Ultimate Oscillator Chart

The USD has had a rough 12 months, losing in excess of 10%. Unfortunately, the policies of the United States Government for the foreseeable future are unchanged. I expect that policy to show itself in the performance of the dollar.

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So where in the world is safe?

Sovereign Man | Simon Black

Yesterday’s letter about social upheaval received a lot of comments, and I want to address the major themes today.

First, ‘Simon the White’ wrote: “You imply that it’s not just the USA, but that all Western countries are screwed. Where will the contagion end? You appear to be arguing ‘expatriate at all costs,’ but if things are bad enough that there is rioting in the USA, where on earth will be safe?”

To summarize yesterday’s letter, I view social upheaval as a foregone conclusion– it’s already happening around the world, and is a direct consequence of deteriorating economic conditions. In the developed world, social upheaval is a gigantic pyre desperately seeking a spark.

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Donald Trump’s candidacy received three times more coverage than Ron Paul’s candidacy

The Raw Story | Eric W. Dolan

Donald Trump received over three times as much news coverage than Republican presidential candidate Rep. Ron Paul (R-TX) this year, according to a report by the Pew Research Center’s Project for Excellence in Journalism.

The report found that Trump was featured in 94 campaign stories by 52 major news outlets from from January 1 to August 14, but the same news outlets only featured Paul in 27 campaign stories.

The real estate mogul and reality television star briefly considered running for president in the spring.

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Cloudy with 100% Chance of Corporate State

Coyote Blog |

t does not appear that Rick Perry is the guy to dismantle our growing corporate state.

The LA Times investigates the big-money culture of Texas politics, which has gotten even bigger and money-er since Rick Perry became governor:

Perry has received a total of $37 million over the last decade from just 150 individuals and couples, who are likely to form the backbone of his new effort to win the Republican presidential nomination….Nearly half of those mega-donors received hefty business contracts, tax breaks or appointments under Perry, according to a Los Angeles Times analysis.

Perry, campaigning Monday at the Iowa State Fair in Des Moines, declined to comment when asked how he separated the interests of his donors from the needs of his state. His aides vigorously dispute that his contributors received any perks. “They get the same thing that all Texans get,” said spokesman Mark Miner.

Nearly half! And this doesn’t even include anything about David Nance and the largesse Perry distributes via his $200 million state-managed venture capital slush fund. Doling out political favors in industrial quantities is obviously something that isn’t frowned upon by Texas political culture, and Perry has taken it to whole new levels.

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